Short 14830 SL 14860
Attached Image (click to enlarge)
- #11,662
- Apr 28, 2011 8:56am Apr 28, 2011 8:56am
- | Commercial User | Joined Jan 2010 | 3,733 Posts
I don't want a job, i want money!
- #11,664
- Apr 28, 2011 9:03am Apr 28, 2011 9:03am
- | Commercial User | Joined Jan 2010 | 3,733 Posts
I don't want a job, i want money!
- #11,665
- Apr 28, 2011 9:08am Apr 28, 2011 9:08am
- Joined Sep 2010 | Status: Trader | 11,327 Posts
Right chaps - I'm off to work , pleasure as always - see you soon 
- #11,666
- Apr 28, 2011 9:08am Apr 28, 2011 9:08am
- | Commercial User | Joined Jan 2010 | 3,733 Posts
I don't want a job, i want money!
- #11,667
- Apr 28, 2011 9:11am Apr 28, 2011 9:11am
- Joined Sep 2010 | Status: Trader | 11,327 Posts
heheheh just don't be upset with me if the it goes down.. just was sharing what i see
- #11,668
- Apr 28, 2011 9:13am Apr 28, 2011 9:13am
- | Commercial User | Joined Jan 2010 | 3,733 Posts
never upset with anyone's point of view - it's me pulling the trigger , I listened to you and it paid off , thanks
I don't want a job, i want money!
- #11,669
- Apr 28, 2011 10:38am Apr 28, 2011 10:38am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Thank You 
- #11,670
- Apr 29, 2011 1:17pm Apr 29, 2011 1:17pm
- Joined Sep 2010 | Status: Trader | 11,327 Posts
End of the month so let's have a look at the monthly chart ....
This month has printed highs not seen since NOV09 but there has not been a monthly close higher than 16750 since SEP08
The 16750 area was formed as a resistance over an 8 month period from JUN09 to JAN10.We came about 3 pips from that number yesterday in Asia.
I think this resistance could push us back down to the 16460 area...
On viewing this chart I placed a short at 16712 with an SL of 16800 , happy to leave it over the W/E
This could be my first scalp off the monthly chart
This month has printed highs not seen since NOV09 but there has not been a monthly close higher than 16750 since SEP08
The 16750 area was formed as a resistance over an 8 month period from JUN09 to JAN10.We came about 3 pips from that number yesterday in Asia.
I think this resistance could push us back down to the 16460 area...
On viewing this chart I placed a short at 16712 with an SL of 16800 , happy to leave it over the W/E
This could be my first scalp off the monthly chart
- #11,671
- May 2, 2011 2:01am May 2, 2011 2:01am
- | Commercial User | Joined Jan 2010 | 3,733 Posts
I don't want a job, i want money!
- #11,672
- May 2, 2011 2:50am May 2, 2011 2:50am
- | Commercial User | Joined Jan 2010 | 3,733 Posts
So fellas... here is my view on our beloved currencies.
Actually nothing new under the sky... or maybe not
As For EU... it seems the cross now is unstoppable. looking at the weekly and monthly chart we can see that already the 3 previous times that EU had a monthly close over 44.5/45 oruce went to 50 (actually once it went to 4966). Basically everything over 45 is bullish and will stay like this unless we CLOSE a month under this level. We have to consider as well that the only time that DX went under 74.13 (in 2007.. my dx chart only goes back to 2005 anyway) EU reached 59 Not saying that it will happen as well this time, but for now i believe it is reasonable to assume we can still see some more upside, without much trouble.
GU is still in some unclear position. To make a comparison with the previous analysis we can say that price in the past reached 1.70-1.71 just at the break of 6725/6750 and guess what was the high of this month... Moreover.. in the same period of time in 2007, when DX was in those conditions GU was pricing over 1.90 ... so u can make some calculation.
To sum up what i said, EU is flying high and we could see some more upside thank to dollar weakness and to some strenght in euro currency. Then combination of these 2 factors brought us where we are now. With GU the thing is much different. We are over here just for dollar weakness, but pound is not giving any effort to get stronger. soon or late dollar will regain some strenght and when it happens it will be interesting to see where this currency will sink!
Actually nothing new under the sky... or maybe not
As For EU... it seems the cross now is unstoppable. looking at the weekly and monthly chart we can see that already the 3 previous times that EU had a monthly close over 44.5/45 oruce went to 50 (actually once it went to 4966). Basically everything over 45 is bullish and will stay like this unless we CLOSE a month under this level. We have to consider as well that the only time that DX went under 74.13 (in 2007.. my dx chart only goes back to 2005 anyway) EU reached 59
Not saying that it will happen as well this time, but for now i believe it is reasonable to assume we can still see some more upside, without much trouble.GU is still in some unclear position. To make a comparison with the previous analysis we can say that price in the past reached 1.70-1.71 just at the break of 6725/6750 and guess what was the high of this month... Moreover.. in the same period of time in 2007, when DX was in those conditions GU was pricing over 1.90 ... so u can make some calculation.
To sum up what i said, EU is flying high and we could see some more upside thank to dollar weakness and to some strenght in euro currency. Then combination of these 2 factors brought us where we are now. With GU the thing is much different. We are over here just for dollar weakness, but pound is not giving any effort to get stronger. soon or late dollar will regain some strenght and when it happens it will be interesting to see where this currency will sink!
I don't want a job, i want money!
- #11,673
- Edited 5:01am May 2, 2011 4:39am | Edited 5:01am
Looking at the COT report, it seems that large traders (red line) opened new long positions on GBPUSD future and these guys usually want to be paid
Anyway the data are taken on tuesday and made public on friday so remember that this is a lagging "indicator".
I am currently long both on GU and EU but remember also that today it is bank holyday in half europe so the market is very thin.
EDIT: closed EU long at the rejection of the UTL connecting last days high (5m TF). Looking to buy again at a retest of DPP or breakout and retest of the TL (unless PA shows otherwise).
Anyway the data are taken on tuesday and made public on friday so remember that this is a lagging "indicator".
I am currently long both on GU and EU but remember also that today it is bank holyday in half europe so the market is very thin.
EDIT: closed EU long at the rejection of the UTL connecting last days high (5m TF). Looking to buy again at a retest of DPP or breakout and retest of the TL (unless PA shows otherwise).
- #11,674
- May 2, 2011 6:30am May 2, 2011 6:30am
- Joined Sep 2010 | Status: Trader | 11,327 Posts
On viewing this chart I placed a short at 16712 with an SL of 16800 , happy to leave it over the W/E
This could be my first scalp off the monthly chart
- #11,676
- May 2, 2011 9:13am May 2, 2011 9:13am
- | Commercial User | Joined Jan 2010 | 3,733 Posts
I don't want a job, i want money!
hmm not much fun around here today huh...
anyway took earlier just a long on EJ and closed already... now waiting for some decent PA... that hopefully US guys will give us. Will be interesting if we are able to break previous high... but i believe (just a feeling) that it's too early..
- #11,678
- May 2, 2011 9:28am May 2, 2011 9:28am
- | Commercial User | Joined Jan 2010 | 3,733 Posts
...or maybe with bank holyday in europe, the US guys will make a spike north triggering some stops placed over previous high... but let's trade what we see
I don't want a job, i want money!
- #11,679
- May 2, 2011 9:29am May 2, 2011 9:29am
- Joined Sep 2010 | Status: Trader | 11,327 Posts
hmm not much fun around here today huh...
- #11,680
- May 2, 2011 9:32am May 2, 2011 9:32am
- | Commercial User | Joined Jan 2010 | 3,733 Posts
Wassup dude
I don't want a job, i want money!